Bring Alive Your Child’s Dreams. Start Preparing.
Your children are your joy, your pride and your world. And you strive to give your little one(s) the very best in life. You would like to provide your children with all the opportunities that could give them the extra edge over others. For this, you would require an investment and protection package that is specially designed to help you plan wisely for a financially secure and comfortable tomorrow, no matter what the uncertainty of life.
Introducing Kotak’s Headstart Future Protect, a unit-linked dual benefit plan to help secure your children’s future financial needs and ensure that plans do not go away, given you may not always be there to help.
Headstart Child Plans - a specially tailored, cost-effective plan, aims to give your children the financial means to pursue his or her dreams and live them.
The Headstart Advantage:
* Choice of 2 plan variants
o Future Protect
o Assure Wealth* Maximizes wealth while providing protection
* Joint life option
* Save for 2 children with one plan
* Additional bonus units
* Flexible Withdrawal
How does this plan benefit my children?
Double benefit on death
Life is uncertain and you would not want to take a chance when it comes to your children’s
future. In the event of the death of a parent, grandparent or a legal guardian, there would be an irreplaceable void in the life of their children, but Headstart Future Protect can ensure that the financial loss is minimized.
Under this plan, a lump sum amount of 100% of the sum assured would be paid out immediately on the life insured’s death (on the second death, in case of joint life), to assist in meeting unanticipated financial obligations now facing your children.
At the same time, it provides an additional boost (on death of the life insured*) via a lump sum benefit which reduces over the term of the plan to compensate beneficiaries for the outstanding premiums that would have been payable had the policyholder survived the full term of the policy.
Protection boosters
You can opt for additional rider benefit payments should accidental death bring on your demise or, unfortunate events render you disabled or incapacitated. Should a critical illness unfortunately befall you along the way, a portion of the sum assured is immediately made available. Premiums waiver protection is also available on disability. These benefits will be charged for by way of additional unit deductions from the fund.
Investment to maximize returns
When saving over a longer horizon to meet future education costs or other crucial savings
aims, it is important that your investment outpaces the cost of living. We call these real returns because they grow faster than inflation does.
Equity exposure in your portfolio is a key driver of real returns in the long run, and so you will need to balance the need to beat the cost of living 10, 15 or 20 years from now, with the shorter term swings the equity market can expose your capital to.
However, you may find it difficult to take a view on the markets and may not be in a position to switch your money efficiently from one fund to another to balance risk and return. Understanding this requirement of yours, we have introduced the unique DYNAMIC FLOO R FUND. This fund is ideally suited to the more risk-averse investor whose priority is capital preservation but who still wants to participate in actively managed upside market growth.
Flexible withdrawals
With costs being different for every need, the financial requirements for your children would change from time to time and you require a child savings plan that is flexible. With this plan, you can access the investment after completion of the 3rd policy year, with no penalty charges from year 7 onwards. Alternatively, you can just let the amount multiply if the need is not immediate. You can also elect to receive a percentage of the maturity proceeds in cash and the balance by way of pre-specified installments, for up to 5 years after maturity.
How do I apply for this plan?
- Decide the amount you will save regularly to secure your child’s future, i.e. the
Regular Annual Premium. - Decide the term of the policy depending on goals for your child (higher education,
marriage, etc.) that you have in mind. - Choose your life cover - the sum assured, depending on your existing insurance
cover, subject to the minimum requirement - Higher of (5 x Annual Premium) and
(0.5 x Term x Annual Premium) - Select your fund options and Choose the optional benefits.
- Contact Me.
Eligibility
- Entry Age : Min – 18 years | Max – 60 years
- Term Min : 10 years or 18 minus the younger child’s current age, whichever is greater | Max – 25 years
- Limited Premium Payment Term : 3 – 10 years
- Maturity Age : Max - 70 years (older policyholder) | Min – 18 years (younger beneficiary)
- Regular Annual Premium : Min – Rs.15,000 p.a.
- Limited Premium Payment : Min – Rs. 25,000 p.a. for payment term of 4 – 10 years | Min – Rs. 50,000 p.a. for payment term of 3 years
If you want a Life Insurance/ ULIP, Health Insurance or any kind of General Insurance and Mutual Funds, Please CALL/SMS us @ 9830329228 or Contact us. Thanks for visiting!
February, 2008
Dear Mr. Ariful, Just two days back, I took a ULIP (HDFC Young Star Plus) for 25K for my 5 yr old daughter. But there was an article in rediff that ULIPs are waste as there is admin charges as wells as agents commision etc,. Did I do a wrong thing by selecting a ULIP? Pl. answer
February, 2008
Mr. Dey, the ULIP taken by u will generate reasonable returns provided: 1. U continue to invest till the term of the policy (more than 10 yrs) 2. U select the growth option which has maximum equity exposure. This specific policy has very low costs from the second yr onwards, so stick with it. Do not stop the policy after 3 yrs as then it would be a very bad decision.
April, 2008
Sounds perfect to me. I have read this post with a great pleasure. You should write much more often.
July, 2008
Hi, very happy to see forum like this. I am senior sales manager with kotak life insurance and i am there if you have any queries regarding any investments you already made with kotak or planning to do. Any pending issues not getting resolved please mail me with all details and i will help resolve them all. Thanks